It’s clear that Barack Obama planned on raking in millions on the paid speaking circuit while receiving an annual $400,000 pension, but as it turns out the free ride could be over him. According to reports, Congress is preparing to introduce a bill that would stop a president’s pension if they take outside income of $400,000 or more.
Last year, Obama made the controversial decision to veto this bill. Recently, when he accepted $400,000 to give a speech on Wall Street, the bill’s sponsors announced they would be reintroducing the measure in hopes that President Donald Trump will sign it.
“The Obama hypocrisy on this issue is revealing,” noted Rep. Jason Chaffetz, R-Utah and chairman of the House Oversight and Government Reform Committee. “His veto was very self-serving.”
Chaffetz and Sen. Joni Ernst are now gearing up to introduce the Presidential Allowance Modernization Act. This bill would cap presidential pensions at $200,000 and give them another $200,000 for expenses. Last summer, the bill passed both the House and Senate without issue, but Obama argued that it could have “unintended consequences” and “impose onerous and unreasonable burdens” on former presidents by requiring them to immediately release their staff and find a new place.
But it’s not to spot Obama’s true motives behind rejecting the measure as he jet sets around the world.
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